Greg Newman, senior wealth advisor and portfolio manager, Newman Group, ScotiaMcLeod

FOCUS: North American stocks and portfolio protection strategies

MARKET OUTLOOK:

We all know that if you miss the first 20 days of the next bull market historically you miss a lot of the gain.

We also know that those rallies usually begin at very counterintuitive times. 

So at some point having too little equity exposure becomes a dangerous thing. 

Many names look very cheap now.    

But if earnings are set to decline or costs are set to go up due to inflation, or a higher cost of capital, a low valuation can be fleeting. 

Either way, investors can be encouraged that we are already through a good chunk of this downturn and that historically big opportunities are not far off.     

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TOP PICKS

TransAlta Renewables (RNW TSX)

Offers investors a generous dividend with a nice growth rate.

Crombie REIT (CRR.UN TSX)

Offers investors a generous dividend and a nice growth rate at an attractive valuation.

Brookfield Infrastructure Partners (BIP.UN TSX)

Offers investors a nice growth rate at a reasonable valuation with a nice dividend.